Any state or local law that "directly and substantially" conflicts with valid federal law is preempted under the ________
A) Supremacy Clause
B) Commerce Clause
C) Due Process Clause
D) Free Exercise Clause
A
You might also like to view...
Accounts receivable turnover is calculated by dividing ________________________________________ by average net accounts receivable
Fill in the blank(s) with correct word
Which of the following bodies was created to deal with municipal accounting issues?
a. GASB b. FASB c. FAF d. EITF
Creditors of Northern Hydraulics file an involuntary bankruptcy petition against the company and the petition is approved. What is true of Northern Hydraulics?
a. Northern Hydraulics has at least $10,425 in debts. b. There are at least 12 creditors. c. A custodian has automatically been appointed. d. It must make all the filings necessary under a voluntary petition.
Which of the following best describes the right to indemnity? A) It is the right of a creditor to receive interest on the debt
B) It is the right of a principal to receive compensation from the creditor. C) It is the right of a guarantor to be reimbursed by the principal. D) It is the right of a creditor to withhold payment in the case of a dispute.